Millennial Closes "Bought Deal" LIFE Offering of $17,537,500 and Concurrent Non-Brokered Private Placement for Total Proceeds of $18,287,500

On January 29, 2026, Millennial Potash Corp. (MLP) closed a "Bought Deal" Listed Issuer Financing Exemption (LIFE) offering and a concurrent non-brokered private placement. The company raised a total of $18,287,500 CAD by issuing units at $3.05. Each unit consists of one common share and one-half of one common share purchase warrant (exercise price $4.00, 36-month term). The financing was led by Cantor Fitzgerald Canada Corporation and SCP Resource Finance LP. Proceeds are earmarked for the completion of a Definitive Feasibility Study (DFS) at the Banio Potash Project in Gabon and for general working capital.

This financing is a Material - Positive event for the following reasons: - De-risking and Funding: The company has now secured the capital necessary to complete the DFS, which is the final technical hurdle before a construction decision. This follows a US$3M commitment from the US International Development Finance Corporation (DFC) specifically for the DFS. - Institutional Validation: Closing a "Bought Deal" led by Cantor Fitzgerald and SCP indicates strong institutional appetite. Chairman Farhad Abasov noted the participation of "leading global asset management firms," which provides a layer of credibility often lacking in junior developers. - Valuation Step-up: The $3.05 issue price represents a massive premium compared to the company’s financing history ($1.55 in July 2025 and $0.60 in March 2025). This trajectory reflects the material resource growth announced in late 2025. - Immediate Liquidity: The LIFE exemption allows for most of these shares to be free-trading immediately, which usually puts pressure on the stock; however, the fact it was a "bought deal" suggests the underwriters had firm placement for the paper.

Millennial Potash is developing the Banio Potash Project in Gabon. The project is a solution mining play targeting high-grade carnallitite and sylvinite mineralization. - Resource: A massive updated Mineral Resource Estimate (MRE) from Dec 2025 shows 2.45 Billion tonnes of Measured and Indicated (M+I) resources at 15.6% KCl. - Strategy: Positioned as a low-cost, Atlantic-coast supplier to Brazil, the US, and Africa. - Jurisdiction: Gabon has shown high-level support, including visits from the Vice President, though African jurisdiction remains a high-risk factor.